Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, has held discussions with the General Manager of Total regarding the use of renewable energies in the Libyan oil sector and the impact of lack of budgets on production, as well as development programs. This meeting highlighted the implications of the …
Read More »Libya Lost 92% of Oil & Gas Revenues in 2020
Official statistics have shown that Libya’s oil and gas revenues decreased by 92 per cent last year, as the blockade imposed for months on oil facilities caused the suspension of most export operations. The Central Bank of Libya announced that the revenues of the year 2020 were estimated at 2.9 …
Read More »Libya Seeking Funds from Foreign Oil Firms to Repair Infrastructure
Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said. The state-owned National Oil Corp. was forced to shut down a leaking pipeline on Saturday, which cut the OPEC member’s crude production by around 200,000 …
Read More »Libya’s NOC Eyes 1.2 Million Oil bpd in 2021
The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah has said they are aiming to reach 1.2 million oil barrels per day (bpd) in 2021, adding that this aim is part of the NOC plan for the new year. Sanallah added on Friday that the NOC plan included …
Read More »Russian Oil Company Tatneft Considering Return to Libya
The Russian oil company Tatneft is examining the possibility of resuming its operations in Libya, having ceased its works following the revolution of the 17 February, 2011. The Media East Monitor website reported that the company wished to return and resume production and exploration operations in several locations in Libya. …
Read More »Libya’s Oil Production Rises Further
Libya’s crude oil production continues to increase as one of its companies has nearly doubled its output to 100,000 barrels per day (bpd) compared to production levels before the blockade of Libyan oil ports and oilfields in January. Libya’s Sirte Oil and Gas Production and Processing Company has nearly doubled …
Read More »OPEC Excludes Libya from Reducing Oil Production
The 12th OPEC and non-OPEC Ministerial Meeting took place this last week and concluded on Thursday with the participation of the head of the National Oil Cooperation, Mustafa Sunallah, representing Libya and its oil interests. The meeting evaluated the state of the international oil market in terms of supplies, demand …
Read More »Libyans Agree to Form Unified Force Safeguarding Oil Facilities
Libya’s warring sides have agreed to unify forces that protect oil facilities following the United Nations-sponsored talks with the head of the country’s National Oil Corporation (NOC). The talks were held on Monday in Brega, part of the coastal area known as the Oil Crescent. “Today in this historic location, …
Read More »Libya won’t Join OPEC Quotas Until Its Output Steadies
Libya will not join OPEC quotas until its production stabilises at 1.7 million barrels per day (bpd), a Wall Street Journal reporter tweeted here, citing National Oil Corp chief. Libyan oil production could reach 1.3 million bpd within a month, NOC’s Mustafa Sanalla told the Journal. OPEC-member Libya is exempt …
Read More »Libya’s NOC Announces Restoration of all Oil Fields, Ports Operation
Libya’s National Oil Corporation (NOC) announced on Monday the resumption of work at all of the country’s oil fields and ports following the lifting of a force majeure event at the El Feel oil station. “The National Oil Company announces the lifting of force majeure at the El Feel oil …
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